|Bid||11.51 x 800|
|Ask||11.52 x 2900|
|Day's Range||11.45 - 12.16|
|52 Week Range||5.25 - 67.00|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 08, 2021 - Nov 12, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||13.95|
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Today's gains probably shouldn't be too surprising, however, coming as they do on the back of positive comments from the CEO of MJBiz, a cannabis industry news site, yesterday evening. Speaking at MJBizCon 2021 in Las Vegas, company CEO Chris Walsh predicted that whatever happens in Congress, 2022 will see at least four more states flip to recreational marijuana legalization -- and perhaps as many as seven. Additionally, Walsh points out that Idaho and Nebraska are in line to legalize marijuana for medicinal purposes.
The company's merger with Aphria closed in May, but investors shouldn't rule out another one in the near future.
It has now been three full years since Canada legalized the recreational marijuana market on Oct. 17, 2018. In the early stages, marijuana producers in the country were generating strong growth numbers due to the new segment of the market opening up (previously, only medical marijuana had been legal). When cannabis producer Hexo reported its third-quarter earnings (for the period ending April 30) in June, its revenue of 22.7 million Canadian dollars was down 31% from the second quarter, in which sales were CA$32.9 million.